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Sixth Circuit Holds Bankruptcy Court Has Jurisdiction Over Rejection of Power Purchase Agreements

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USA, Energy & Natural Resources, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Debtor, FERC, Sixth Circuit
Fifth Circuit Joins Circuit Split Upholding Bankruptcy Court Jurisdiction to Hear Social Security Claims: Case Has Impact for Health Care Bankruptcies

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USA, Healthcare & Life Sciences, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Medicare, Medicaid, US Congress, Social Security Administration, Fifth Circuit
New EU Directive on restructuring frameworks

The new EU Directive on preventive restructuring frameworks1 was published in the Official Journal of the European Union on 26 June 2019 and entered into force on 16 July 2019. The objective of the Directive is to harmonize the laws and procedures of EU member states concerning preventive restructurings, insolvency and the discharge of debt.

European Union, Insolvency & Restructuring, Reed Smith LLP, Debtor
Airline Insolvency Overhaul: a summary of the final report of the Airline Insolvency Review
  1. Introduction

On 9 May 2019 the Airline Insolvency Review (the AIR), chaired by Peter Bucks, published its Final Report on passenger protections in the context of airline insolvencies, having been commissioned by the Chancellor of the Exchequer in November 2017 following the high-profile collapse of Monarch Airlines.

United Kingdom, Aviation, Insolvency & Restructuring, Reed Smith LLP
Clarity on Cross-Border Conundrum

It is well established that the type of recognition granted by the recognising court under the UNCITRAL Model Law will depend on whether the originating proceedings are ‘foreign main’ or ‘foreign non-main’ proceedings, which in turn hinges on the centre of main interests (COMI) of the insolvent entity.

Global, USA, Insolvency & Restructuring, Litigation, Reed Smith LLP
Eleventh Circuit Narrows Circuit Split Holding New Value Not Required to Remain Unpaid

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USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Eleventh Circuit
Delaware Bankruptcy Court Upholds Bankruptcy Code Pre-emption Invalidating Pre-Petition Claims as Part of Post-Petition KERP

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USA, Delaware, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP
SDNY District Court Upholds Substantive Consolidation to Eliminate Guarantee Claims

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USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, US District Court for the Southern District of New York
“Golden Share” Equity Holder Can Bar Bankruptcy Filing

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USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP
Delaware Bankruptcy Court Approves Separate Classification and Disparate Gifted Consideration Between General Unsecured Creditors

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USA, Delaware, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP